New York State Teachers Retirement System Lowers Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• New York State Teachers Retirement System trimmed its holdings in The Hartford by 6.2% in Q4, selling 17,429 shares and ending with 263,372 shares worth about $36.29 million (≈0.09% of the company).
• Several large institutions — including State Street, Invesco, Nordea, Franklin Resources and Bank of America — increased their positions, and overall institutional ownership stands at 93.42%.
• Insiders have been selling

New York State Teachers Retirement System trimmed its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,372 shares of the insurance provider's stock after selling 17,429 shares during the period. New York State Teachers Retirement System owned about 0.09% of The Hartford Insurance Group worth $36,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock valued at $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Invesco Ltd. lifted its position in shares of The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of The Hartford Insurance Group by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider's stock valued at $606,956,000 after acquiring an additional 81,712 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of The Hartford Insurance Group by 3.3% in the third quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider's stock valued at $450,449,000 after acquiring an additional 108,765 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of The Hartford Insurance Group by 7.5% in the second quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider's stock valued at $416,365,000 after acquiring an additional 228,780 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $135.99 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $37.28 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.44 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The business's 50-day moving average is $137.31 and its 200 day moving average is $134.90.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $14.45 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The Hartford Insurance Group's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group's payout ratio is presently 16.87%.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares of the company's stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 349,282 shares of company stock worth $48,184,324 over the last three months. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HIG has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, February 13th. Cantor Fitzgerald decreased their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Finally, Citigroup boosted their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $149.31.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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